23 W Laurel Street

Description

Beautiful Victorian-style home thoughtfully converted into four separate apartments, blending timeless old-world charm with modern updates. Located in the heart of Millstadt and within walking distance to local restaurants and shops, this property offers both strong cash flow and long-term appreciation potential. Income-Producing Details: • Gross Monthly Income: $3,625 • Monthly Expenses: $1,212 • Net Monthly Income: $2,413 • Additional Income Potential: 2-car garage rentable for approx. $100–$150/month • Nearly a 8.0% cap rate exceeding the typical cap rate of 6-7.25% in our area Unit Breakdown: • Three (3) units: 1 bedroom, 1 bath • One (1) unit: 2 bedrooms, 1 bath Property Highlights: • Hardwood or luxury vinyl plank flooring throughout • Updated kitchens with new cabinetry • Updated bathrooms • Separate electric meters for each unit • Refrigerators and electric range/oven included in all apartments • Roof on main house less than 10 years old • New siding (2016) • New roof on garage (2026) This well-maintained property offers immediate income with upside potential through garage rental and future rent adjustments. Strong curb appeal, historic character, and a prime in-town location make this a standout addition to any investment portfolio. A minimum of 24 hour notice required. Preappproval or proof of funds must be provided to listing agent before viewing.